Other things the same, if a country raises its saving rate, then in the long run
a. both the level and growth rate of real GDP are unchanged.
b. the level of real GDP is higher but the growth rate of real GDP is unchanged.
c. both the level and growth rate of real GDP are higher.
d. None of the above are correct.
b
Economics
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Research shows that when exchange rates are more volatile, the price differentials are ____ and the convergence is _____.
A) smaller; faster B) smaller; slower C) larger; slower D) larger; faster
Economics
In Figure 5.1, the marginal utility of income is
A) increasing as income increases. B) constant for all levels of income. C) diminishes as income increases. D) None of the above is necessarily correct.
Economics